Galaxy Digital’s head of research Alex Thorn believes there is a strong possibility that the United States will move ahead with the creation of a Strategic Bitcoin Reserve before the end of this year—though not everyone in the industry shares his confidence.
“I still think there’s a strong chance the US government will announce this year that it has formed the Strategic Bitcoin Reserve (SBR) and is formally holding BTC as a strategic asset,” Thorn wrote on X Thursday, adding that “the market seems to be completely underpricing the likelihood of such an announcement.”
Signs suggest the initiative is progressing. In March, President Trump signed an executive order establishing both the Strategic Bitcoin Reserve and the US Digital Asset Stockpile. However, a detailed strategic framework has yet to be unveiled.
Still, a series of recent moves indicate that momentum around the Strategic Bitcoin Reserve hasn’t stalled. On Tuesday, US lawmakers introduced a bill instructing the Treasury to study and publish a report on the feasibility and technical requirements of such a reserve.
Cointelegraph also reported on July 31 that Trump’s crypto liaison reaffirmed the administration’s commitment to the initiative, despite it receiving only a brief mention in the White House’s latest crypto policy paper.
Skeptics, however, argue that an official rollout may be further off. Dave Weisberger, former chairman of CoinRoutes, said 2026 is a more realistic timeline. He noted that the administration is unlikely to make an announcement until it has already accumulated its initial Bitcoin target.
This hesitation has some Bitcoin advocates worried the US could be left behind. Jan3 founder Samson Mow told Magazine in June that the US “has to start” buying Bitcoin this year or risk being outpaced by other countries: “The risk is that the US is front-run by Pakistan,” he warned.
Meanwhile, other nations are already taking steps. On Wednesday, Kyrgyzstan advanced a bill to establish its own state cryptocurrency reserve. And on Aug. 6, Bitcoin Indonesia said it had met with government officials to discuss how a strategic Bitcoin reserve could help drive economic growth.
